Hit Difficult Times During the Pandemic? Take Decision Action with Cost-Cutting Measures

If you’ve hit some tough times with a recent lay-off or furlough or your partner has suffered a setback, allow yourself some time to feel down. But then pick yourself back up, approach the setback with a positive mindset, splash some cold water on your face, hit the reset button. 

Now that you are on the road to improvement, it’s necessary to make some immediate changes to protect the money that you still have. Also, by reducing future spending, it’ll be easier to make ends meet in case the downturn lasts longer than you expect before a job replacement or other upturn. Here are some ideas for cost-cutting measures to take quickly.

Change Your Food Shopping Habits

Many people have saved £100+ a month by simply switching to less expensive supermarkets for some or all of their daily needs. Making the switch to Lidl (which has been a staple in Northern Ireland since 1999) or another affordable supermarket can significantly reduce the food bill each week. They now have many familiar brands at low prices where it’s possible to put together less costly meals.

While supermarkets now try to price match the discount supermarkets, they only do so on selected goods. It is the total cost of the weekly food shopping that you should be concerned about. 

Pick Up Household Items at Discount Shops

If you’re still purchasing household items like toiletries, cleaning materials, and other supplies from the supermarket you should reconsider. Places like Poundland and other discount shops in your area are likely to offer much better deals. They bulk buy popular brands and by keeping to near a pound per item, reduce the costs of these household extras that add up fast. Poundland even stocks some basic medicines, gloves, drinks, and other items at a discounted price. You might be surprised by what you discover there. 

Can You Get a Better Deal on Your Home Insurance?

For many people, they picked an insurer years ago and just automatically renewed the policy. Any discounts or changes to the market have passed them by. 

The insurance market has become more competitive recently and so, when looking for a better-priced insurance policy for your home, it pays to consider all your options. One of the best ways to do that with home insurance is to compare available policies in Northern Ireland to see what’s covered, the amount of coverage, and the yearly premium. A website like CompareNI.com is excellent to check this type of competitive quote information. Their home insurance NI information is detailed and extremely helpful when looking to save money on your annual policy before the renewal date. 

A Personal Cooling-off Period

Don’t rely on the cooling-off period which is given to online purchasers to return unopened items at a later date. Instead, turn it on its head by creating a personal cooling off period. How do you do it? Delay any purchase above a certain minimum value for a set time period. This way, you can see if you really want it or whether it was an impulse buy. This avoids emotional shopping and overspending. 

Taking decisive action on your spending while you’re motivated is important. Don’t wait until you feel less pressure before acting. Otherwise, money may be allowed to get tighter still.

Sophia Anderson

Sophia Anderson is a blogger and a freelance writer. She is passionate about covering topics on money, business, careers, self-improvement, motivation and others. She believes in the driving force of positive attitude and constant development.